Press Release
GreenLight Financial Services Launches XL Dynamics' LOS for its Wholesale Lending Operations
Cerritos, CA - September 1, 2005 :
XL Dynamics, Inc. (XLD), the nation's leading provider of web based mortgage lending solutions, announced today that GreenLight Financial Services Inc. (GFS) one of the fastest growing direct-to-consumer mortgage lenders in the industry, has licensed and launched XL Dynamic's Loan Origination System (LOS) for its wholesale lending operations.
Greenlight Financial Services, is a high volume originator with a successful consumer-direct business model. XL Dynamics' LOS, Mortgagesoft OnLine®, integrates all the aspects of the mortgage process from point-of-sale to processing, underwriting, secondary, closing, and shipping. GreenLight is now using Mortgagesoft OnLine as a single integrated platform for both its wholesale and retail lending processes. Mortgagesoft OnLine offers a wholesale lending "plug-in" with a configurable work flow.
GreenLight Financial Services currently uses XL Dynamic's LOS to manage its retail operations. The success of Mortgagesoft Online, prompted GFS to implement it in the wholesale lending division. Key factors being cost efficient, and no new hardware or software integration required as the new wholesale modules simply plugged into the existing Mortgagesoft OnLine backbone. The system has now been in production since April 2005 and provides GreenLight with increased business potential.
"We selected XL Dynamics because their system efficiently powers our high volume enterprise. This enables us to expand and grow aggressively," said Joe Bentivegna, President, GreenLight Financial Services. "XL Dynamics' LOS system is cost effective and is scalable to our projected loan volume. "
"We are confident that XL Dynamic's web-based LOS will help GreenLight streamline its wholesale origination process, as well as support the company's current and future growth objectives," said Pavan Agarwal, CTO of XL Dynamics, Inc.
About XL Dynamics
XL Dynamics, Inc. is a complete end to end web-based loan origination and financial solution software provider for the mortgage and lending industry. XL Dynamic's Loan Origination System, MOL, automates integrated loan and mortgage processes, including qualifying, processing, underwriting, closing, secondary marketing, settlement, shipping and insuring. In addition to automating processes, XL Dynamics' solutions make it possible for enterprises and customers to work as a single unit and share this mortgage processing information over the Internet.
Founded in 1992 in Cerritos California, XL Dynamics is a US based, multinational corporation with design centers located in the US and India. For more information about XL Dynamics, visit the company's website at www.xldynamics.com
About Greenlight Financial Services:
Greenlight Financial Services (www.greenlightloans.com ; 866-66-FASTER) has become one of the fastest growing direct-to-consumer mortgage lenders in the industry; providing a combination of advanced technology, competitive interest rates, and outstanding customer service. Greenlight originates first and second mortgages, as well as equity lines of credit. Founded in 2001, Greenlight Financial Services is headquartered in Irvine, California
Greenlight Financial Service
Tracy Mallozzi
Media Contact
310-280-3710
Tracy@therosegrp.com
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